Nestle hits ceiling on dividend note

Dalal Street Spikes

 The counter moved up on good buying support in late morning trades, after the company announced a dividend of Rs 10 per share for FY03.

 The Nestle stock had surged 5.25 per cent on Thursday ahead of the dividend announcement. Incidentally, Nestle had moved out of the Sensex on November 10.

 Players say the counter has also been a part of the current broad-based rally in the FMCG sector, which is expected to register strong growth in the coming months.